Rikoon Group LLC Cuts Position in Apple Inc. (AAPL)
Rikoon Group LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,946 shares of the iPhone maker’s stock after selling 1,073 shares during the period. Apple accounts for about 2.2% of Rikoon Group LLC’s holdings, making the stock its 8th biggest position. Rikoon Group LLC’s holdings in Apple were worth $4,888,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Berkshire Hathaway Inc. boosted its holdings in Apple by 0.6% in the second quarter. Berkshire Hathaway Inc. now owns 130,191,960 shares of the iPhone maker’s stock worth $18,750,246,000 after acquiring an additional 834,854 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Apple by 15.0% in the second quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock worth $4,241,383,000 after purchasing an additional 3,845,363 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Apple by 3.0% in the second quarter. Legal & General Group Plc now owns 26,106,175 shares of the iPhone maker’s stock worth $3,759,849,000 after purchasing an additional 771,046 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Apple by 301.3% in the second quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock worth $2,880,992,000 after purchasing an additional 15,018,790 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Apple by 1.5% in the second quarter. Swiss National Bank now owns 19,169,416 shares of the iPhone maker’s stock worth $2,760,779,000 after purchasing an additional 275,400 shares during the last quarter. Institutional investors and hedge funds own 59.78% of the company’s stock.
Several brokerages have recently commented on AAPL. Vetr raised Apple from a “buy” rating to a “strong-buy” rating and set a $173.06 price objective for the company in a research note on Friday, September 22nd. Rosenblatt Securities reissued a “hold” rating and issued a $150.00 price objective on shares of Apple in a research note on Sunday, October 15th. Citigroup reissued a “buy” rating and issued a $200.00 price objective (up from $170.00) on shares of Apple in a research note on Friday, November 3rd. They noted that the move was a valuation call. UBS set a $190.00 price objective on Apple and gave the stock a “buy” rating in a research note on Monday, December 4th. Finally, Bank of America reissued a “buy” rating and issued a $180.00 price objective on shares of Apple in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $197.57.
In related news, insider Daniel J. Riccio sold 15,641 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $169.69, for a total value of $2,654,121.29. Following the transaction, the insider now directly owns 17,341 shares of the company’s stock, valued at approximately $2,942,594.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela J. Ahrendts sold 63,388 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $154.21, for a total value of $9,775,063.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 232,967 shares of company stock worth $37,944,683. Insiders own 0.08% of the company’s stock.
Shares of Apple Inc. (AAPL) opened at $172.22 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 1.23. Apple Inc. has a 12-month low of $114.76 and a 12-month high of $176.24. The company has a market capitalization of $884,230.00, a P/E ratio of 18.66, a PEG ratio of 1.37 and a beta of 1.24.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.20. Apple had a return on equity of 36.29% and a net margin of 21.09%. The firm had revenue of $52.58 billion for the quarter, compared to analysts’ expectations of $50.71 billion. During the same period in the previous year, the firm posted $1.50 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. research analysts predict that Apple Inc. will post 11.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, November 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.46%. Apple’s dividend payout ratio is currently 27.42%.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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